XN000022-1991-09-24 — Page 9

EFFECT OF OPERATIONS THIS AFTERNOON

TRADE WEIGHTED INDEX 111.9 -0.2* 24.9.91

TUESDAY, SEPPEN 24, 1991

HONG KONG GOVERNMENT EXCHANGE FUND

CLOSING YIELDS OF EXCHANGE FUND BILLS

24.9.91

20.9.91

MATURING IN 1 WEEK

4.26 PCT

4.09 PCT

1 MONTH

4.29 PCT

4.29 PCT

3 MONTHS

4.58 PCT

4.60 PCT

6 MONTHS

5.07 PCT

5.13 PCT

12 MONTHS

5.80 PCT

5.84 PCT

TOTAL TURNOVER

7,200 MN

9,490 MN

0

HONG KONG GOVERNMENT EXCHANGE FUND

NEUTRAL

HKEG

EXCHANGE FUND BILLS TENDER RESULTS

TUESDAY 24 SEPTEMBER 1991

ISSUE NUMBER

Q139

AMOUNT APPLIED

HKD 1,202 MN

AMOUNT ALLOTTED

HKD 500 MN

AVERAGE ACCEPTED YIELD

4.60 PCT

HIGHEST ACCEPTED YIELD

4.63 PCT

PRO RATA RATIO

ABOUT 54 PCT

HONG KONG GOVERNMENT EXCHANGE FUND

HKEH

NEXT TENDER OF EXCHANGE FUND BILLS

-

TUESDAY 1 OCTOBER 1991

ISSUE NUMBER

Q140

H174

ISSUE DATE

2 OCT 91

MATURITY DATE

TENOR

AMOUNT ON OFFER

2 JAN 92

92 DAYS

HKD 500 + 100 MN

0

2 OCT 91

1 APR 92

182 DAYS

HKD 200+ 60 MN